Cetera Investment Advisers Trims Stock Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Cetera Investment Advisers lessened its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,908 shares of the real estate investment trust’s stock after selling 7,672 shares during the quarter. Cetera Investment Advisers owned 0.06% of PennyMac Mortgage Investment Trust worth $691,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PMT. Rialto Wealth Management LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $25,000. Principal Securities Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 2,042.9% in the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 2,288 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth about $36,000. Allworth Financial LP purchased a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $39,000. Finally, Sandy Spring Bank acquired a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PMT shares. UBS Group decreased their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Jones Trading restated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company reduced their target price on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.50.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $12.25 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month high of $14.98. The company’s fifty day moving average price is $13.24 and its two-hundred day moving average price is $13.34. The firm has a market capitalization of $1.07 billion, a P/E ratio of 9.21 and a beta of 1.32.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.39). The company had revenue of $44.47 million for the quarter, compared to the consensus estimate of $94.36 million. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. During the same period in the previous year, the business posted $0.39 EPS. On average, research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.07%. The ex-dividend date was Friday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is 172.04%.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Catherine A. Lynch bought 2,878 shares of the business’s stock in a transaction on Thursday, April 24th. The stock was purchased at an average cost of $12.15 per share, for a total transaction of $34,967.70. Following the completion of the transaction, the director now directly owns 49,254 shares of the company’s stock, valued at approximately $598,436.10. This trade represents a 6.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Doug Jones sold 14,530 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction of $210,685.00. Following the transaction, the director now owns 64,082 shares of the company’s stock, valued at approximately $929,189. This trade represents a 18.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.